China resilient to challenges, GDP to grow 6% next year: Economists
Global Times
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(Photo: Xinhua)

China has launched a more comprehensive and long-term economic strategy to tackle the downward pressure that includes not only macro counter-cyclical policies but also active promotion of its opening-up and reforms, senior economists said Saturday after the just-concluded annual Central Economic Work Conference.

China has great potential for economic growth despite various challenges it faces at the international front, and will maintain a prosperous economic growth as long as reforms are carried out competently, said Li Daokui, the director of Center for China in the World Economy (CCWE) at the School of Economics and Management of Tsinghua University, at an annual forum hosted by China Center for International Economic Exchanges (CCIEE) in Beijing on Saturday.

It is absolutely possible for the economy to grow at around 6 percent next year, Li said, noting that the automobile and education sectors, among others, have great market potential in terms of demands, and more effective measures could help cultivate fruitful outcomes.

China has entered the final phase in its quest to eradicate absolute poverty by 2020, including its efforts to double the GDP and per-capita income in 2020 from that of 2010.

Ning Jizhe, a deputy head of China's National Development and Reform Commission, said China will continue to execute a proactive fiscal policy and a prudent monetary policy, strengthen counter-cyclical adjustmentsand promote the "double upgrading" of industry and consumption.

Besides, actively continuing opening-up is also beneficial for China's economic development, Li noted.

The general direction of China's opening-up slated for next year is also in line with the US' expectation under the phase-one deal of China-US trade talks, Li told the Global Times. 

China and the US have agreed on the text of a highly anticipated phase-one trade agreement, under which Washington has committed to rolling back tariffs in phases and Beijing will increase its purchase of US products based on market demand, Chinese officials announced on Friday night.